Question: Failure to record the adjustment to recognize depreciation: Select one: a. Understates Liabilities b. Understates Revenue c. Overstates Expenses d. Understates Assets e. Overstates Assets

Understates Liabilities b. Understates Revenue c. Overstates Expenses d. Understates Assets e.

Failure to record the adjustment to recognize depreciation: Select one: a. Understates Liabilities b. Understates Revenue c. Overstates Expenses d. Understates Assets e. Overstates Assets The following items appeared on the January 31 bank reconciliations for Gower Company: Bank Service Charge: $8 NSF Check: $40 . Outstanding Checks: $30 . Deposit in Transit: $80 .Error: Deposit by Gower for $404 was correctly recorded by Gower, but recorded for $440 by the bank. Bank collection of Note Receivable for Gower: $170 The unadjusted balance per the January 31 books is $1,000. The adjusted cash balance for the January 31 balance sheet is: Select one: a. $952 b. $1,014 c. $1,136 d. $1,122 e. $1,086

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